In changing market conditions up and down the country, there are difficult conversations to manage vendors’ expectations, both at the first meeting but increasingly – and as a result of a slower moving market – those challenging price reduction conversations.
Hannah Parker, Product Manager here at Zoopla shares her approach to winning instructions in this challenging market.
1. Don’t underestimate your expert local knowledge
Take pride in and boast about your knowledge on the most recent sales and achieved prices, the time on market as well as the demand from buyers.
Communicate other market factors which influence your recommendation of asking price. For example, the vendor may not be aware that the local school has recently been awarded ‘outstanding’ by ofsted, creating new demand from families, and parking restrictions create a premium for homes with driveways and garages.
2. Utilise independent data to validate your expertise
There is reams of local market level data available to you on Zoopla Advantage – Use our interactive map to pull out key data points on housing transactions, inflation rates over time, demographics of home hunters and price to earning ratio.
3. Arm yourself with Zoopla’s dual branded property valuation report
The report, developed in conjunction with agents, includes independent stats and evidence to support your valuation conversations. Components include estimated value, value range and potential yields. In addition you can expect lots of local insights like the average time on market, the percentage of achieving price to asking, and comparable properties. It’s the perfect leave behind that is ready for your use.